Coke Rejection Risks Big Spill
中国否决可口可乐(Coca-Cola)收购汇源果汁，这一决定的影响正波及远在南半球的澳大利亚。Bloomberg News商场里出售的汇源果汁已经成为澳大利亚反对党领袖人物的乔伊斯(Barnaby Joyce)认为，中国政府对这桩交易做出的决定应当作为如何对待希望收购澳矿产资源企业股份的中国公司的参照。这类交易中规模最大的一笔就是中国铝业股份有限公司(Aluminum Corp. of China Ltd., 简称：中国铝业)提出以195亿美元收购力拓股份有限公司(Rio Tinto Plc)股份及其部分矿业资产的交易。当然，这桩交易的形势与可口可乐－汇源交易有很大的不同。一方面，美国和中国历来在跨境并购方面都有很多问题。中国海洋石油总公司(CNOOC，简称：中海油)收购加州联合石油公司(UNOCAL Corporation)的交易遭遇厄运，不久前由华为主导的收购3Com的行动也未能成功，这些都让中国对美国没什么好感。上述两桩收购案都深陷政府审查的泥潭，最后收购方都放弃了交易。有人怀疑中国政府否决可口可乐收购汇源的交易在某种程度上是对美国政府的上述决定还以颜色。澳大利亚政府有一些重大考虑，有利于中国铝业的收购请求得到批准，其中包括中国铝业能够提供力拓急需的资金，同时这对澳大利亚的就业具有重大意义。但中国铝业提出的收购请求尚未在监管机构那里获得通过，中国又提出了其他的资源收购交易，这使得原本就敏感的形势更加棘手。随着公众对于中国政府意图何在的争论愈演愈烈，澳大利亚外国投资审核委员会(Foreign Investment Review Board)就算还没有直接否决，也很可能对中国的并购要求采取拖延手段。委员会已经延长了力拓－中国铝业交易的审查时限，周二又对湖南华菱钢铁集团有限责任公司(Hunan Valin Iron & Steel Group Co.)向Fortescue Metals Group投资8亿美元的交易重施故伎。该委员会还要求鞍山钢铁集团公司(Anshan Iron & Steel Group Co.)重新提交以1.62亿美元收购Gindalbie Metals Ltd.部分股份的交易请求。现在还有9起中国公司提出收购澳大利亚资源公司的交易悬而未决，中国在这个时候给贸易保护主义火上浇油殊为不智。Andrew Peaple相关阅读商务部：可口可乐交易裁决不是保护主义行为 2009-03-19中国拒绝可口可乐的理由很“商业” 2009-03-19可口可乐收购汇源交易商务部裁决声明 2009-03-19汇源交易被否决 外资信心恐受挫 2009-03-19汇源判决：反垄断还是保护？ 2009-03-19否决汇源收购案有理有据 2009-03-19中国商务部驳回可口可乐收购汇源计划 2009-03-18 本文涉及股票或公司document.write (truthmeter('2009年03月20日09:22', '601600.SH'));中国铝业股份有限公司（简称：中国铝业）英文名称：Aluminum Corp. of China Ltd.总部地点：中国大陆上市地点：上海证交所股票代码：601600document.write (truthmeter('2009年03月20日09:22', '1886.HK'));中国汇源果汁集团有限公司（简称：汇源果汁）英文名称：China Huiyuan Juice Group Ltd.总部地点：中国大陆上市地点：香港交易所股票代码：1886document.write (truthmeter('2009年03月20日09:22', '2600.HK'));中国铝业股份有限公司英文名称：Aluminum Corp. of China Ltd.总部地点：中国大陆上市地点：香港交易所股票代码：2600document.write (truthmeter('2009年03月20日09:22', 'RTP'));力拓股份有限公司英文名称：Rio Tinto PLC (ADS)总部地点：英国上市地点：纽约证交所股票代码：RTPdocument.write (truthmeter('2009年03月20日09:22', 'ACH'));中国铝业股份有限公司英文名称：Aluminum Corp. of China Ltd. (ADS)总部地点：中国大陆上市地点：纽约证交所股票代码：ACHdocument.write (truthmeter('2009年03月20日09:22', 'KO'));可口可乐公司英文名称：Coca-Cola Co.总部地点：美国上市地点：纽约证交所股票代码：KOdocument.write (truthmeter('2009年03月20日09:22', 'RIO.AU'));Rio Tinto Ltd.总部地点：澳大利亚(Australia)上市地点：澳大利亚证券交易所股票代码：RIOdocument.write (truthmeter('2009年03月20日09:22', 'RIO.LN'));力拓股份有限公司英文名称：Rio Tinto Plc总部地点：英国上市地点：伦敦股票代码：RIO
WSJA(3/20)Heard On The Street: Coke Rejection Risks Big Spill (From THE WALL STREET JOURNAL ASIA)China's decision to reject Coca-Cola's acquisition of juice-maker China Huiyuan Juice Group is rippling southward toward Australia.Already a leading opposition politician, Barnaby Joyce, is pointing to the Coke-Huiyuan decision as an example of how to treat Chinese companies looking to shop in Australia's resources sector.The biggest of those forays is Aluminum Corp. of China's US$19.5 billion bid for a stake in Rio Tinto PLC and some of its mining assets. For sure, the dynamics of that deal are very different from the Coke-Huiyuan case.For one, the U.S. and China have a particularly troubled history when it comes to cross-border M&A. Cnooc's ill-fated bid for Unocal and, more recently, the Huawei-led move on 3Com, did little to spread goodwill toward the U.S. in China. Both were tangled up in government reviews so daunting that the bids were withdrawn.Some suspect the Coke decision is in part a tit-for-tat response to those decisions.And Canberra will have important considerations weighing in favor of approval for Chinalco's offer, including Rio Tinto's urgent need for the cash China can provide, and its importance to Australian jobs.But China has already made a sensitive situation stickier by proposing other resource deals before Chinalco had a chance to squeeze its offer past the regulators.As the public debate over Beijing's intentions grows heated, Australia's Foreign Investment Review Board is looking to delay, if not yet outright reject, China's push. It had already extended the Rio-Chinalco decision deadline, and on Thursday did the same to Hunan Valin Iron & Steel Ltd.'s $800 million investment in Fortescue Metals Group. It also asked Anshan Iron & Steel Group to resubmit its $162 million bid to buy a stake in Gindalbie Metals Ltd.With nine other bids from Chinese firms for Australian resource companies now pending, this is a bad time for China to add fuel to the protectionist fire.-- Andrew PeapleClick here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=9wJyqpDVRkP1dIKEQFegyw%3D%3D. You can use this link on the day this article is published and the following day.-0-Copyright (c) 2009 Dow Jones & Company, Inc.
WSJA(3/20)Heard On The Street: Coke Rejection Risks Big Spill (From THE WALL STREET JOURNAL ASIA)China's decision to reject Coca-Cola's acquisition of juice-maker China Huiyuan Juice Group is rippling southward toward Australia.Already a leading opposition politician, Barnaby Joyce, is pointing to the Coke-Huiyuan decision as an example of how to treat Chinese companies looking to shop in Australia's resources sector.The biggest of those forays is Aluminum Corp. of China's US$19.5 billion bid for a stake in Rio Tinto PLC and some of its mining assets. For sure, the dynamics of that deal are very different from the Coke-Huiyuan case.For one, the U.S. and China have a particularly troubled history when it comes to cross-border M&A. Cnooc's ill-fated bid for Unocal and, more recently, the Huawei-led move on 3Com, did little to spread goodwill toward the U.S. in China. Both were tangled up in government reviews so daunting that the bids were withdrawn.Some suspect the Coke decision is in part a tit-for-tat response to those decisions.And Canberra will have important considerations weighing in favor of approval for Chinalco's offer, including Rio Tinto's urgent need for the cash China can provide, and its importance to Australian jobs.But China has already made a sensitive situation stickier by proposing other resource deals before Chinalco had a chance to squeeze its offer past the regulators.As the public debate over Beijing's intentions grows heated, Australia's Foreign Investment Review Board is looking to delay, if not yet outright reject, China's push. It had already extended the Rio-Chinalco decision deadline, and on Thursday did the same to Hunan Valin Iron & Steel Ltd.'s $800 million investment in Fortescue Metals Group. It also asked Anshan Iron & Steel Group to resubmit its $162 million bid to buy a stake in Gindalbie Metals Ltd.With nine other bids from Chinese firms for Australian resource companies now pending, this is a bad time for China to add fuel to the protectionist fire.-- Andrew PeapleClick here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=9wJyqpDVRkP1dIKEQFegyw%3D%3D. You can use this link on the day this article is published and the following day.-0-Copyright (c) 2009 Dow Jones & Company, Inc.